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Q. What is Insurance? What is Life & General Insurance?

Mention any 10 life insurance policies and 5 fast moving General


Insurance policies.
Insurance Definition:

Insurance is a contract, represented by a policy, in which an individual or entity


receives financial protection or reimbursement against losses from an insurance
company. The company pools clients' risks to make payments more affordable
for the insured.

Life Insurance

Life insurance is a contract between an insurer and a policyholder in which the


insurer guarantees payment of a death benefit to named beneficiaries upon the
death of the insured. The insurance company promises a death benefit in
consideration of the payment of premium by the insured.

General Insurance

General insurance or non-life insurance policies, including automobile and


homeowners policies, provide payments depending on the loss from a particular
financial event. General insurance is typically defined as any insurance that is
not determined to be life insurance.
Top 10 Life Insurance Policies in India 2018

1. SBI Life e-shield is a non-linked online insurance plan which provides


higher returns on premiums. It’s designed basically to safeguard your family in
your absence and secure them financially. The plan does not offer survival
benefits at the time of maturity.

Features of SBI e-shield Life insurance policy


2.HDFC Life click 2 Protect Plus

Click 2 Protect Plus is a term insurance plan launched by HDFC life that assures
an extensive protection to your loved ones against life’s uncertainties. Even
their timely necessities will be taken care of with a monthly income under the
Income and Income Plus Option.

3. Aviva i-Life is a term insurance plan that offers a comprehensive financial


protection to your family in case of your death. The plan which comes at a
nominal cost acts as an additional backup when your loved ones are faced with
unfortunate incidents. Aviva i-Life is a protection plan and hence it doesn’t
offer maturity benefits. Refer to the below table for features of Aviva i-Life.
Features:
4.Future Generali care plus-Emotional losses are irreparable, yet we can
secure the lives of our beloved ones and provide them a smooth living even in
our absence. Care Plus is a simple life insurance plan that offers a high life
cover at an easily affordable price, which will ensure a complete financial
protection of your family even when you are not around. Care Plus comes in
two types—Classical Option and Premier Option.
5. BSLI Protect@Ease Plan is a term insurance plan that guarantees an end-to-
end financial protection to your family in the event of your death. The plan has
been tailored to meet each and every requirement of a family, and hence it
comes with flexible coverage options. BSLI Protect@Ease plan also rewards the
policyholders for maintaining healthy life habits. Tax benefits as per the Income
Tax Act are applicable.

6.LIC’sJeevan Pragati is a non-linked life insurance plan offered by LIC,


which is a combination of life cover and savings. The plan qualifies for an
automatic increase in risk cover in every 5 years during the term. Policyholders
can also avail loan facility under LIC’s Jeevan Pragati Plan.
7. The Max Life term plan comes with a protection solution that secures the
future of your family even in your absence. The plan offers extensive coverage
with add-ons such as benefit rider, premium waiver options, etc. It’s purely a
life insurance cover which offers death benefits and no maturity benefits.

8. ICICI Prudential iProtect Smart is an enhanced life protection plan that


takes care of the financial worries of your family in case of your death. It also
covers against terminal illness and disability and comes with special benefits for
women. You can choose the level of protection under iProtect Smart at the time
of entry.
9.Bharati Axa Life elite secure: It’s an affordable plan that provides an
extensive financial support to the dependents of the insured, in case an
unfortunate incident takes place. The plan offers competitive premium rates and
comes with an option to cover your life till 75 years of age. Tax benefits under
Section 80C and 10(10D) are applicable.

10.PNB Met Life Mera Term Plan: Mera Term Plan, as the name suggests, is
a tailor made life insurance cover that offers a comprehensive protection to your
family in your absence. The payouts are available as a lump sum plus regular
monthly income, lump sum plus increasing monthly income, and lump sum plus
regular monthly income till your child attains 21 years of age.
Popular General Insurance Policies in India 2018

1.New India Assurance car insurance: Insurance for the damage or theft of your
car.

Features:

2. Bajaj Allianz Home Insurance Policy

Bajaj Allianz offers 3 different types of insurance policies that cater to the needs
of all kinds of customers. They are as follows:

My Home Insurance Cover

If you want to provide your home with protection against all kinds of
unforeseen incidents, this is the insurance policy you should opt for. It offers
comprehensive coverage against a wide range of risks such as burglary, fire,
natural calamities etc. It comes with 3 different plans, which are: Agreed Value
Basis, Reinstatement Value Basis and Indemnity Basis. You can choose a plan
that suits your needs the most.

Features and Benefits of Bajaj Home Insurance

It offers complete protection for properties, their contents and the interests of
the insured individuals along with members of their family.

It provides protection to your home against losses from burglary, natural


calamities and fire.

It comes with attractive rebates and affordable premiums.

It offers coverage for works of art, jewelry and other valuables.

It comes with many add-ons that can help you customize your policy and
increase its coverage.
It comes with benefits for renting an alternate accommodation.

It comes with policy periods of 1, 2 and 3 years.

3.Tata AIG Travel Insurance

Tata AIG is one of the top travel insurance providers in India. It provides offers
4 types of travel plans:

Travel Guard Plan

Student Guard Plan

Asia Travel Guard Plan

Domestic Travel Guard Plan

Features:

4.Bajaj Alianz Two Wheeler Insurance

Insurance for the damage or theft of your two wheeler

Features:
5.HDFC Ergo Two Wheeler Insurance:

Insurance for the damage or theft of your two wheeler

Features